OTA industry - additional information
Online travel agencies or OTAs are a type of travel websites which enable consumers to plan, search and book travel. These sites can be used for both leisure and business travel, with different platforms offering different types of services. Rentalcars.com, a subsidiary of the Price Line Group, offers customers the chance to book rental cars online 24 hours a day, whereas Booking.com, another Priceline brand, is focused on the accommodation market, and allows travelers to search for and compare prices of hotels by destination and other variables. Other sites such as Expedia.com, a subsidiary of Expedia Inc., markets a variety of travel types including, hotels, flights, rental cars and cruises.
The OTA industry is becoming the largest sector of the travel agency industry. In 2014, the largest travel agency in the world was the OTA conglomerate Expedia Inc. with sales of 50.4 billion U.S. dollars. This was closely followed by another OTA company the Priceline Group with sales of 50.3 billion U.S. dollars. The success of these companies does not seem to be slowing. Expedia, for example, has increased its worldwide revenue by almost one billion U.S. dollars per year for the last two years. The Priceline Group has increased its revenue year on year since 2007, from 1.41 billion U.S. dollars in that year to 9.22 billion U.S. dollars in 2015.